Key Points
India-United States trade is likely to surpass the previous record of USD 200 billion this year and huge opportunities exist for the two countries to expand cooperation in defence, space besides critical emerging technologies like semiconductors and artificial intelligence, said American Ambassador Eric Garcetti on Thursday...
The US is proud to be India's No. 1 trading partner with two-way trade reaching nearly USD 200 billion last year, Garcetti told reporters in Indore..
"I think this year we will break the (previous) record of USD 200 billion in bilateral trade (between India and the US)," he said...
The envoy asserted that US President Joe Biden in the past had emphasized that trade between India and America should rise to the level of USD 500 billion given the potential for expansion..
Garcetti said huge opportunities exist to further grow Indo-US trade, and for bilateral cooperation in areas such as defence, agriculture, space, climate, energy and health, as well as critical emerging technologies like semiconductors, telecommunications, AI and quantum computing...
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